Exam (elaborations)

CMCA EXAM REAL 120 QUESTIONS AND CORRECT DETAILED ANSWERS(VERIFIED ANSWERS)| ALREADY GRADED A 2024/2025

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CMCA

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CMCA

CMCA EXAM REAL 120 QUESTIONS AND CORRECT DETAILED ANSWERS(VERIFIED ANSWERS)| ALREADY GRADED A 2024/2025 CMCA EXAM REAL 120 QUESTIONS AND CORRECT DETAILED ANSWERS(VERIFIED ANSWERS)| ALREADY GRADED A 2024/2025 CMCA EXAM REAL 120 QUESTIONS AND CORRECT DETAILED ANSWERS(VERIFIED ANSWERS)| AL...

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Uploaded on January 4, 2024
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Written in 2023/2024
Type Exam (elaborations)
Contains Questions & answers

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cmca exam real 120 questions and correct detailed
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CMCA EXAM REAL 120 QUESTIONS AND CORRECT
DETAILED ANSWERS(VERIFIED ANSWERS)| ALREADY
GRADED A 2024/2025
GAAP requires which statement for year-end reports for a community association?
a. cash flows
b. auditing
c. compilation
d. budgeting
A
When developing rules, the rules must be capable of:
a. uniform enforcement
b. modiciations and revisions
c. limited interpretations
d. selective enforcement
A
If you prepare a maintenance responsibility chart for your community association, it must be
based on all of the following except:
a. bylaws and declaration
b. board policies
c. state statutes
d. human resource policy
D
Who is responsible for selecting a contractor?
a. board
b. president
c. manager
d. owners/residents
A
A manager must take into consideration all of the following federal laws during the hiring
process, except the:
a. Americans with Disabilities Act of 1990
b. Immigration Reform and Control Act of 1986
c. Housing and Urban Recovery Act of 1983
d. Family and Medical Leave Act of 1993
C

,Which government agency regulates employee compensation or payment?
a. FDIC
b. FICA
c. OSHA
d. DOL
D
A legally binding contract should include all of the following provisions except:
a. assignability
b. waiver
c. insurance
d. severability
C
If a physical asset is to be replaced, the basis for an association's scheduled replacement consists
of the:
a. reserve study and replacement fund budget
b. maintenance record and inspection report
c. inspection checklist and reserve fund budget
d. inspection report and analysis sheet
A
A closed board meeting may also be referred to as a:
a. private session
b. board session
c. executive session
d. committee session
C
All of the following are types of association meetings except:
a. special meetings
b. annual meetings
c. ad hoc meetings
d. owner meetings
C
A useful management control to record various maintenance services and information needed in
case of an emergency is a maintenance:
a. responsibility chart
b. analysis sheet
c. request form
d. contact sheet

, D
Quorum requirements conflicts are resolved by:
a. state statute
b. the board of directors
c. a vote of those present at a meeting
d. appointment of a person as a proxy
A
Fidelity insurance provides coverage to ensure that the:
a. board will meet its fiduciary obligations.
b. manager will faithfully follow all document provisions.
c. association will be covered for shortfalls in the reserve accounts.
d. association will recover any funds lost through employee dishonesty
D
Which types of management is the process of operating, maintaining, repairing, and replacing
common property?
a. human resources
b. facilities
c. financial
d. risk
B
The higher a document's place in the hierarchy, the:
a. harder it is to implement
b. greater its power with the board
c. more it is regulated legally
d. great its legal weight in a court of law
D
Based on which type of requirements would you choose a contractor over the association to
complete work?
a. low urgency, cost adequate tools available
b. high urgency, low supervision and training possibly needed
c. requires supervision, expertise required and low urgency
d. low costs, high urgency and borrowed tools
C
Who is required to be present for an annual association membership meeting to conduct
business?
a. the treasurer and the secretary
b. a quorum of the board of directors

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Exam (elaborations)

CMCA EXAM REAL 120 QUESTIONS AND CORRECT DETAILED ANSWERS(VERIFIED ANSWERS)| ALREADY GRADED A 2024/2025

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